Interim Results & Presentation 2020/21 - February 2021

Interim Results & Presentation 2020/21 - February 2021

HIGHLIGHTS – for the half year ended 31 December 2020

  • Trading in line with our expectations, with the business recovering from the impact of COVID-19;
  • Order intake, revenue and operating profit have all increased on the six months to June 2020, albeit lower than HY 2019/20;
  • Good performance in Energy & Environment and Rail, both delivering an increase in profits on HY 2019/20;
  • Automotive market overall remains challenging, but is improving slowly with increased order intake in the US and China compared to the six months to June 2020;
  • Performance Products deliveries in line with our expectations;
  • Defense fleet retrofit approaching contract award;
  • Share placing completed, raising £28m, to reset the capital structure of the Group;
  • Excluding the fund raise and adjusting items, underlying reduction in net debt of c.£3m for the period (increase in net debt of c.£5m after adjusting items); and
  • Interim dividend of 1.75p declared.

Click here to download the results press release 


 

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